MS&AD Insurance Group Holdings (Aioi Nissay Dowa Insurance, Mitsui Sumitomo Insurance), Sompo Japan Insurance, Tokio Marine & Nichido Fire Insurance and Nippon Life Insurance have concluded a memorandum of understanding to carry out joint studies on business initiatives to develop sustainable finance.
FWD Group Holdings (FWD) is expanding its financial literacy programme, JA SparktheDream, to span seven markets in Asia as part of its 10th anniversary year community initiatives. Developed in partnership with Junior Achievement Asia Pacific (JA), the programme integrates financial, social and life skills education for students to help boost financial literacy in the region.
Dai-ichi Life (DL), one of the leading life insurers in Japan, forecasts that its results will improve in the current financial year ending 31 March 2024 (FY23) even though fundamental profit decreased notably in FY22 due to COVID-19-related claims and higher hedging costs, notes CreditSights, a unit of Fitch Group.
Amidst a super-ageing population, rapidly reducing birth-rate and increasing life expectancy, Japan has also to grapple with its young generation in increasing numbers harbouring suicidal thoughts.
Anicom Group, which provides pet insurance in Japan, has indicated that the development of pet food based on genetics and gut microbiomes and pet insurance data will continue to be the thrust of the group this year.
Nippon Life has partnered with AI cloud tech firm H2O.ai to deploy driverless AI tools for the insurer's business. This will, in turn, better meet the needs of the company's policyholders, improve financial security of corporate health insurance unions, and support health promotion and disease prevention.
Ten major Japanese life insurance companies have said that they plan to increase investments in domestic bonds in the current fiscal year ending 31 March 2024 (FY2023), in anticipation that the Bank of Japan will revise monetary policy this calendar year.
The National Federation of Health Insurance Societies, or Kenporen, has said that its member societies are expected to log a record loss in the fiscal year ending 31 March 2024 (FY2023).
Insurance giant Tokio Marine Holdings is considering a sale of its life insurance business in southeast Asia that could be valued at about $1bn, reported Bloomberg News quoting people familiar with the matter, as the Japanese insurer looks to focus on its core operations.
The outlook for Japan's property and casualty (P&C) insurance sector is stable, underpinned by strong capitalisation and profitability despite weak global economic growth and rising climate risks, says Moody's Investors Service in a report released yesterday.